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 Post subject: Anglo junior bondholder expects to get every cent back
PostPosted: Mon Dec 29, 2014 3:19 pm 
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Anglo junior bondholder expects to get every cent back - Sarah McCabe -> http://www.independent.ie/business/iris ... 04389.html

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A GERMAN junior bondholder "owed" €17m by Anglo Irish Bank has told the Sunday Independent he expects to receive as much as 100pc of his money back from the collapsed bad bank next year.
"Our board of directors has calculated the numbers and they show that we could receive up to a 100pc return on our money" said Wolfgang Klopfer, chief executive officer of Munich-based Xaia Investment GmbH.
His predictions are unlikely to be greeted warmly given that Irish taxpayers have injected the equivalent of 20pc of the nation's gross domestic product into shoring up Anglo.
Most of this has not and will not be repaid.

there is more


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 Post subject: Re: Anglo junior bondholder expects to get every cent back
PostPosted: Mon Dec 29, 2014 3:31 pm 
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BoyRacer wrote:
Anglo junior bondholder expects to get every cent back - Sarah McCabe -> http://www.independent.ie/business/iris ... 04389.html

Quote:
A GERMAN junior bondholder "owed" €17m by Anglo Irish Bank has told the Sunday Independent he expects to receive as much as 100pc of his money back from the collapsed bad bank next year.
"Our board of directors has calculated the numbers and they show that we could receive up to a 100pc return on our money" said Wolfgang Klopfer, chief executive officer of Munich-based Xaia Investment GmbH.
His predictions are unlikely to be greeted warmly given that Irish taxpayers have injected the equivalent of 20pc of the nation's gross domestic product into shoring up Anglo.
Most of this has not and will not be repaid.

there is more



Biggest problem I have with the Irish public is that they go nuts over a water charge, but not this.
Not only a multiple of the cost, but it was never ours to begin with.

The pinnacle of crony capitalism.
Corrupt to the core.


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 Post subject: Re: Anglo junior bondholder expects to get every cent back
PostPosted: Mon Dec 29, 2014 3:32 pm 
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mr_anderson wrote:

Biggest problem I have with the Irish public is that they go nuts over a water charge, but not this.
Not only a multiple of the cost, but it was never ours to begin with.

The pinnacle of crony capitalism.
Corrupt to the core.



Anglo payout ‘U-turn’ sparks uproar - Shaun Connolly -> http://www.irishexaminer.com/ireland/an ... 00846.html

Quote:
Revelations that junior bondholders at Anglo Irish Bank, who are seeking pay-outs of up to €280m, could be given a "bonanza" windfall just as the first water charge bills hit hard-pressed families next spring have provoked uproar.
Speaking in the Dáil, Finance Minister Michael Noonan was accused of a U-turn after he admitted the Anglo payments could happen — despite previous insistence that this was “unlikely”.
With bondholders set to be rewarded just as the €275m-a-year water charge on domestic users is imposed, campaigners warned the Government had its priorities wrong.

there is more


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 Post subject: Re: Anglo junior bondholder expects to get every cent back
PostPosted: Mon Dec 29, 2014 3:34 pm 
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mr_anderson wrote:
BoyRacer wrote:
Anglo junior bondholder expects to get every cent back - Sarah McCabe -> http://www.independent.ie/business/iris ... 04389.html

Quote:
A GERMAN junior bondholder "owed" €17m by Anglo Irish Bank has told the Sunday Independent he expects to receive as much as 100pc of his money back from the collapsed bad bank next year.
"Our board of directors has calculated the numbers and they show that we could receive up to a 100pc return on our money" said Wolfgang Klopfer, chief executive officer of Munich-based Xaia Investment GmbH.
His predictions are unlikely to be greeted warmly given that Irish taxpayers have injected the equivalent of 20pc of the nation's gross domestic product into shoring up Anglo.
Most of this has not and will not be repaid.

there is more



Biggest problem I have with the Irish public is that they go nuts over a water charge, but not this.
Not only a multiple of the cost, but it was never ours to begin with.

The pinnacle of crony capitalism.
Corrupt to the core.


Many (but of course not all) people protesting over water charges pay little or no tax, so they don't feel like paying off bondholders affects them.

_________________
— Try, fail, understand, win. —


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 Post subject: Re: Anglo junior bondholder expects to get every cent back
PostPosted: Mon Dec 29, 2014 7:58 pm 
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Posts: 553
BoyRacer wrote:


Anglo payout ‘U-turn’ sparks uproar - Shaun Connolly -> http://www.irishexaminer.com/ireland/an ... 00846.html

Quote:
Revelations that junior bondholders at Anglo Irish Bank, who are seeking pay-outs of up to €280m, could be given a "bonanza" windfall just as the first water charge bills hit hard-pressed families next spring have provoked uproar.
Speaking in the Dáil, Finance Minister Michael Noonan was accused of a U-turn after he admitted the Anglo payments could happen — despite previous insistence that this was “unlikely”.
With bondholders set to be rewarded just as the €275m-a-year water charge on domestic users is imposed, campaigners warned the Government had its priorities wrong.

there is more


It seems from the article that this situation is similar to the unwinding of a bankruptcy where there may be enough coming out of an estate to pay all creditors who are left in, at least partially. Does anyone know if the Irish government can actually intervene in this process to stop payments to select creditors such as the junior bondholders? And probably such an action, if taken, might only kickoff another legal battle.


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